88c/89 Let to White Stuff Limited on a new lease until 2021 (no breaks)
Prominent pedestrianised location in historic and popular market town
Close to Castle Quay Shopping Centre
Nearby occupiers include Marks & Spencer, Debenhams, H&M, Next, WH Smith, Boots the Chemist, McDonald’s and Caffé Nero
Residential redevelopment potential (subject to consents) of upper floors above No. 90/91 High Street
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 21
Auction 13th October 2016
Rent £31,450 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of Insolvency Practitioners - Deloitte
Property Information
Location
Miles
23 miles north of Oxford, 40 miles south-east of Birmingham, 65 miles north-west of London
Roads
A422, A423, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham International Airport
Situation
Banbury is a historic and popular Oxfordshire market town which lies just off the M40 between London and Birmingham. The property is prominently situated on the north side of the pedestrianised High Street close to its junction with Market Place and Bridge Street. The property is a short distance from Castle Quay Shopping Centre which houses retailers including Marks & Spencer, Debenhams, H&M, Next, WH Smith and Boots the Chemist. Other nearby occupiers include McDonald's, Poundland, Mothercare, Tony & Guy and Caffè Nero.
Tenure
Freehold.
Location
Miles
23 miles north of Oxford, 40 miles south-east of Birmingham, 65 miles north-west of London
Roads
A422, A423, M40 (Junction 11)
Rail
Banbury Railway Station
Air
Birmingham International Airport
Situation
Banbury is a historic and popular Oxfordshire market town which lies just off the M40 between London and Birmingham. The property is prominently situated on the north side of the pedestrianised High Street close to its junction with Market Place and Bridge Street. The property is a short distance from Castle Quay Shopping Centre which houses retailers including Marks & Spencer, Debenhams, H&M, Next, WH Smith and Boots the Chemist. Other nearby occupiers include McDonald's, Poundland, Mothercare, Tony & Guy and Caffè Nero.
Tenure
Freehold.
Description
No. 88c/89 comprises ground floor retail accommodation and first floor ancillary accommodation. No. 90/91 comprises ground floor retail accommodation with ancillary accommodation on the first and second floors. The upper floors of No. 90/91 have potential to become self-contained and may benefit from residential redevelopment (subject to consents).
NB. The adjoining properties 5, 6, 7 & 8 Market Place are to be offered in this catalogue.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
No. 88c/89 comprises ground floor retail accommodation and first floor ancillary accommodation. No. 90/91 comprises ground floor retail accommodation with ancillary accommodation on the first and second floors. The upper floors of No. 90/91 have potential to become self-contained and may benefit from residential redevelopment (subject to consents).
NB. The adjoining properties 5, 6, 7 & 8 Market Place are to be offered in this catalogue.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
88c/89
Ground First
Retail/Ancillary Ancillary
139.73 sq m 32.72 sq m
(1,504 sq ft) (352 sq ft)
WHITE STUFF LIMITED UK (1)
Approx. 4 years & 7 months from 28/07/2016 on a full repairing and insuring lease (2)
£31,450
01/02/2021
90/91
Ground First Second
Retail/Ancillary Ancillary Ancillary
67.02 sq m 56.83 sq m 43.55 sq m
(721 sq ft) (612 sq ft) (469 sq ft)
VACANT
Totals
339.85 sq m
(3,658 sq ft)
£31,450
1) For the year ending 30th April 2016, White Stuff Limited reported a turnover of £144,140,000, pre-tax profits of £15,968,000 and a total net worth of £34,732,000 (Source: Experian Group 12/09/2016). (2) The lease is subject to a schedule of condition.
